1.          
PURPOSE :

                   To  purchase  for  New  Two  Wheeler  viz:  Scooter(s),  Motor   Cycle(s),

Scooteree(s), Moped(s) (subject to
Registration of vehicle with RTO)

2.          
ELIGIBILITY :

2.1(a) Salaried Employees : Minimum gross monthly
salary / pension/ income – Rs.15000/- OR Subject to change from time to time.

(b)           
Businessmen : (Corporate or non corporate) whose
annual income is more than Rs. 2.00 lakh p.a. OR Subject to change from time to
time.

(c)           
Professionals : Whose annual income is more than Rs.
2.00 lakh p.a. OR Subject to change from time to time?

(d)           
Existing
customers of the Panchkula Central Cooperative Bank Ltd. with atleast 6 months
satisfactory transactional record OR new customer with satisfactory track record
of last one year with other Bank, Students 18 years and above till employed,
Staff, Ex Staff of the Bank.

3.             
EXTENT OF LOAN :   

Maximum Rs. 2.00
Lakh or 12 times of gross monthly salary/ income whichever is lower.

4.             
MARGIN :

     
(a)    10% on Road Price of the vehicle for
salaried person.

                                  (b)      15% on Road Price of the vehicle for other.

5.             REPAYMENT PERIOD:

5.1        The loan amount together with interest is to be repaid maximum in 36 equated monthly installments comprising of principal and interest commencing from the succeeding month.

5.2        In case the loan is allowed to joint borrowers, it should be ensured that at least one of the joint borrower(s) is able to repay the loan along with interest up to the maximum prescribed age.